This office lease form states that the tenant shall exercise its option to renew this lease upon written notice given to the landlord no less than eighteen (18) months before the end of the lease term.
Fairfax Virginia Notice of Intention to Exercise Option
State:
Multi-State
County:
Fairfax
Control #:
US-OL24016
Format:
Word;
PDF
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Description
How to fill out Notice Of Intention To Exercise Option?
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FAQ
Answer. The US government can exercise options at their discretion/"early", as long as it is done by the time established in the applicable option clause and IAW any special T&Cs when applicable. Exercising options is an unilateral right of the government.
(4) Files for all other contracts should be closed within 20 months of the month in which the contracting officer receives evidence of physical completion.
(b) The contracting officer shall issue a written decision on any Government claim initiated against a contractor within 6 years after accrual of the claim, unless the contracting parties agreed to a shorter time period.
Exercising an option prior to that option's period of performance does not inherently change or modify that option's period of performance. You should never wait to exercise an option on the start date of that option's period of performance.
(a) Unless otherwise approved by the Chief of the Contracting Office, contracts for services employing option periods shall require that a preliminary written notice of the Government's intention to exercise the option be furnished to the Contractor a minimum of sixty (60) calendar days prior to the date for the
Normally, options are exercised using a unilateral contract modification. Whether unilateral or bilateral, the modification or other written document exercising the option must cite the option clause as the authority for the government action.
43.201 General. (a) Generally, Government contracts contain a changes clause that permits the contracting officer to make unilateral changes, in designated areas, within the general scope of the contract.
Bid protest is made by filing a written protest with the awarding agency and the PD of the DGS within five working days after notice of proposed award.
The Government's decision not to exercise the option was the result of some specific intent to injure the contractor and not motivated by any valid reasons relating to the contractor's performance or the Government's future lack of requirements for the contracted services.
When using sealed bidding, the contracting officer shall make a written determination that there is a reasonable likelihood that the options will be exercised before including the provision at 52.217-5, Evaluation of Options, in the solicitation. (See 17.207(f) with regard to the exercise of options.)
